PRISTINA, Kosovo, Oct. 28 /PRNewswire/ -- A unique partnership that brings together major players in Kosovo is opening the door to the financial mainstream for Kosovars. Today, partners IPKO, Raiffeisen Bank, Better Served Kosovo and RevEurope introduced the country's first prepaid cards. For the first time, young, cash-based and mobile Kosovars can enjoy the freedom and security of spending with plastic and the ability to send money domestically, top up their IPKO mobile phone accounts or check balances with a simple text message, no bank account required.
Commenting on the launch, Jean-Marc Tonti, Visa Inc. general manager, SEE and CIS, said: "We are delighted to support the first pre-paid card in Kosovo and would like to congratulate all the organisations involved in developing such an innovative programme. It is of particular importance for the Kosovan market as it will contribute to increasing electronic payments in the country and bring more people into the banking sector and the formal economy - a stated governmental priority."
The IPKO Visa Prepaid Card allows customers who buy and load cash on the card to shop online, make purchases in the 28 million merchant outlets where Visa cards are accepted and withdraw cash from 1.4 million ATMs in more than 200 countries and territories worldwide. With free e-banking capabilities, cardholders can manage their accounts online at www.ipkocard.com. Raiffeisen Bank issues the IPKO Visa Prepaid Card.
Raiffeisen Bank customers will also have the ability to top up IPKO mobile minutes from their mobile phones as a feature offered with the Raiffeisen Bank Visa Prepaid Card, which Raiffeisen Bank is also launching in Kosovo today.
"As a homegrown company that's been connecting Kosovars to one another and to the world since 1999 as part of our mission to lift living standards and provide opportunities, it gives us great pride to be the first to connect unbanked Kosovars to the financial mainstream," said Akan Ismaili, IPKO's chief executive officer. "Better Served Kosovo and RevEurope contribute deep knowledge of alternative payments and consumers who are new to financial services, and Raiffeisen Bank is a respected and trusted financial institution throughout the region."
"Raiffeisen Bank owes its reputation in Kosovo and the broader region to its commitment to delivering innovative products and services when and where our customers want them," said Shpend Nura, Head of Product Management and Development Department, Raiffeisen Bank. "We see tremendous interest in Kosovo for flexible, safe and accessible cash alternatives and are proud to join our partners in introducing these pioneering solutions."
RevEurope developed, promotes and provides the distribution and processing platform jointly with Better Served Kosovo for the IPKO Visa Prepaid Card and independently for the Raiffeisen Bank Visa Prepaid Card. Through a global agreement with MPOWER Mobile, a sister company, RevEurope powers the cards' integrated YAP mobile service that enables their mobile money transfer and mobile top-up capabilities.
"Better Served Kosovo is extremely fortunate to be involved with a group of partners who are committed to developing innovative payment solutions that address the needs of Kosovar consumers," said Martin Davis, managing partner of Better Served Kosovo. "Our combined goal is to make payments more efficient for consumers, businesses and governments as Kosovo moves from a cash-based economy to electronic payments."
"Kosovo is a country that's brimming with optimism and entrepreneurial energy, a new country with a young population that's open to new opportunities and new ways of doing things - we're confident Kosovars will embrace this new way to pay," said John Mitchell, chief executive officer of RevEurope.
The IPKO Prepaid Visa Card is available to any Kosovo resident with valid identification online at www.ipkocard.com or any of the 14 IPKO stores in Kosovo. For more information on the IPKO Visa Prepaid Card, please visit www.ipkocard.com.
Customers with proper identification can purchase a Raiffeisen Bank Prepaid Visa Card "off the rack" from Raiffeisen Bank branch locations in Kosovo. For more information on the Raiffeisen Bank Visa Prepaid Card offered in Kosovo, please visit http://www.kartelemeparapagim.com.
About IPKO
IPKO Telecommunications LLC is recognized as one of the fastest growing telecommunications companies in Europe. Established in 1999, IPKO has grown from being the first Kosova-wide Internet provider to becoming a modern enterprise offering a full range of integrated services as well as content, in mobile communications, fixed telephony, digital cable television, Internet services as well as media.
IPKO is known as a modern company with advanced and affordable services, and has a reputation of a company who cares for its clients. Whether in the personal or business sectors, our innovation extends to products and services that are carefully tailor-made to suit customers' diverse needs. Our philosophy of tailoring tariff plans and personalized offers to cater to the changing needs of our customers with different lifestyles in Kosovo is reflected in the diversity of our services. For more information, please visit www.ipko.com.
About Raiffeisen Bank
Raiffeisen Bank Kosovo is a network bank of Raiffeisen International (RI). RI operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers. The group's nearly 60,000 employees service around 15 million customers via more than 3,100 business outlets. Raiffeisen International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns about 70 per cent of the common stock. The remainder is in free float, with the shares listed on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group. For more information, please visit www.raiffeisen-kosovo.com.
About Better Served Kosovo
Better Served Kosovo is a local Kosovo entity within the Better Served World group of companies. Better Served World links financial institutions, wireless carriers, payment processors and bill payment providers through a unified, secure and scalable technology platform. The mission of Better Served World is to extend the payment capabilities of our partners and cater to the needs of end users with innovative global solutions. By developing local businesses within emerging markets, our philosophy is to empower local talent to serve a local community with compelling, integrated solutions.
About RevEurope
Based in Dublin, Ireland, RevEurope develops, markets and distributes a range of payment products designed to meet the needs of consumers underserved by traditional financial services. RevEurope forms part of Rev Worldwide, the first global network of payment companies created to innovate end-to-end payment solutions that allow underserved consumers around the world to participate in today's mainstream economy. Rev Worldwide partners with financial institutions, telecommunications companies, merchants and government entities to serve consumers through card payments and payment processing, reload networks, mobile payments, loyalty programs, money transfers and bill payment. The Rev Worldwide companies are members of the MPOWER Ventures investment portfolio. For more information, please visit www.revworldwide.com.
About Visa
Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 200 countries. For more information, visit www.corporate.visa.com.
